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Articles 1 - 13 of 13
Full-Text Articles in Business
The Effect Of Government Deficits On Consumption And Interest Rates: A Two Equation Approach, Dean D. Croushore
The Effect Of Government Deficits On Consumption And Interest Rates: A Two Equation Approach, Dean D. Croushore
Economics Faculty Publications
Single-equation estimation of the consumption function often is used in testing the Ricardian equivalence theorem. This approach may be misleading, as effects on interest rates usually are ignored. This paper proposes simultaneous estimation of consumption and investment equations, with the interest rate serving to equilibrate the market. Five existing studies are replicated and subjected to sensitivity tests. The results show that the interest rate is important in the consumption function. The Ricardian equivalence theorem is tested, but the results are mixed.
Announcement Effects On Bank Stock Prices: Citicorp's Increase In Loan Loss Reserves For Third World Debt, Gay B. Hatfield, Carol Lancaster
Announcement Effects On Bank Stock Prices: Citicorp's Increase In Loan Loss Reserves For Third World Debt, Gay B. Hatfield, Carol Lancaster
Robins School of Business White Paper Series, 1980-2022
Citicorp's announcement of a sizeable increase to its loan loss reserve account was a landmark public admission of possible loan default by Third World debtor nations. This paper analyzes the impact of the announcement on Citicorp, the banking industry, and the stock market. The results provide evidence of a positive response to Citicorp's action. There is additional evidence that the size of the market response is related to an individual bank's degree of international loan exposure.
The Consequences Of Fas 93: Depreciation In Higher Education, Phillip A. Jones, Clarence R. Jung Jr.
The Consequences Of Fas 93: Depreciation In Higher Education, Phillip A. Jones, Clarence R. Jung Jr.
Robins School of Business White Paper Series, 1980-2022
The absence of depreciation accounting in the financial statements of colleges and universities is an issue of relevance to managerial accountants, both professionally and personally. It is of professional relevance not only because of the impact on the financial statements but also because of the impact this has had on management and accounting practices in higher education. It is of personal relevance because of the impact that the adoption of depreciation accounting will have on the cost of higher education to managerial accountants and their families. The convergence of the results of our study of colleges and universities in Virginia, …
The Economics Of Higher Education In Virginia, Phillip A. Jones, Clarence R. Jung Jr.
The Economics Of Higher Education In Virginia, Phillip A. Jones, Clarence R. Jung Jr.
Robins School of Business White Paper Series, 1980-2022
This study is based primarily on financial data from colleges and universities in Virginia for the two academic years 1986-1987 and 1987-1988. The database stems from detailed data submitted by virtually all colleges and universities to the federal and state governments and reported in the Integrated Postsecondary Education Data survey (IPEDS). The data were accessed by Professor Jones from the State Council of Higher Education using the Bitnet computer program.
The aim of the study is to gain an understanding of the matrix of financial, economic and academic factors which determine the nature of a college or university; and to …
A Profile Of Research In Expert Systems, Mohammed H. Omar, Jack S. Goodwin
A Profile Of Research In Expert Systems, Mohammed H. Omar, Jack S. Goodwin
Robins School of Business White Paper Series, 1980-2022
If the field of Expert Systems (ES) is viewed in terms of a life cycle, the past decade represents the growth phase of its development. Sophistication of ES has increased rapidly, and the use of ES to solve more complex problems has maintained a similar pace. Numerous forces have driven this development including the rapid changes in computer technology. As the field has matured, the body of published research in ES has grown substantially.
Through the use of published ES research, this article provides useful answers to these questions. The scope of our study is limited to the description and …
Corporate Philanthropy: Strategic Responses To The Firm's Stakeholders, Jeanne M. Logsdon, Martha L. Reiner, Lee Burke
Corporate Philanthropy: Strategic Responses To The Firm's Stakeholders, Jeanne M. Logsdon, Martha L. Reiner, Lee Burke
Robins School of Business White Paper Series, 1980-2022
Corporate decisions about philanthropic contributions have become more strategic in recent years. Contributions are targeted not only to benefit recipient nonprofit organizations, but also to fulfill major business objectives. This article develops a typology of strategic corporate philanthropy that distinguishes between strategic process and three strategic outcomes. It reports the extent of strategic philanthropy categories in an exploratory study of large firms headquartered in the San Francisco Bay Area. Relationships between philanthropy and industry sector, organizational placement of the philanthropy function, firm age, and firm size are identified.
Fiber Optics Technology: A Promise For Productivity Enhancement, Mohammed H. Omar
Fiber Optics Technology: A Promise For Productivity Enhancement, Mohammed H. Omar
Robins School of Business White Paper Series, 1980-2022
The evolution of fiber optics during the past thirty years has led to dramatic developments in the fields of computer information systems, telecommunications, cable television, and military science. Today, fiber optical systems are widely accepted as a practical and cost efficient alternative to electrical communication systems.
This paper addresses: (1) the basic architecture of fiber optical systems; (2) the evolution of fiber optical systems; (3) the advantages and limitations of fiber optical systems in comparison to traditional communication systems; (4) the application of fiber optical systems; and (5) the anticipated future developments of fiber optical systems.
Avtex: A Clash Of Environmental Business And Defense Interests, Diane Dodd-Mccue, Martha Reiner
Avtex: A Clash Of Environmental Business And Defense Interests, Diane Dodd-Mccue, Martha Reiner
Robins School of Business White Paper Series, 1980-2022
Avtex: A Clash of Environmental, Business, and Defense Interests is based on the continuously unfolding conflict between the only certified U.S. supplier of carbonized rayon for the Department of Defense and NASA with state and federal water and air quality regulators. Avtex, a privately held and financially strapped corporation, is the biggest water and air polluter in Virginia and one of the worst nationwide. It is also a major employer in Front Royal, Virginia, a small community nestled in the Shenandoah Valley. Complicating the Avtex controversy are the $22.6 million federal bailout in November 1989 and recent charges by environmental …
Some Concerns In Implementing The New Education Requirements For Accounting Graduates, James A. Schweikart, Phillip A. Jones Sr.
Some Concerns In Implementing The New Education Requirements For Accounting Graduates, James A. Schweikart, Phillip A. Jones Sr.
Robins School of Business White Paper Series, 1980-2022
Graduates in accounting expecting to enter the profession of public accounting in the United States will soon be required to have five years of college education. While the education of accounting graduates may be enhanced, there are several repercussions of this requirement on colleges and universities as well as on the accounting profession in general. Some of these consequences may actually impair accounting education for those entering fields other than public accounting, as college and university resources will be unable to support the needs of all accounting fields.
The Erratic Equity Position May Be Caused By Fas 52: An Investigation Of The Results Of Unrecognized Gains And Losses From Foreign Currency Translations, James A. Schweikart, Robert H. Sanborn
The Erratic Equity Position May Be Caused By Fas 52: An Investigation Of The Results Of Unrecognized Gains And Losses From Foreign Currency Translations, James A. Schweikart, Robert H. Sanborn
Robins School of Business White Paper Series, 1980-2022
Financial Accounting Standards Board Statement No. 52 (FAS 52) replaced FAS 8 in 1981 and the new guidelines have been accepted widely for providing noncontroversial and adequate disclosure of foreign currency matters. The nine years since the adoption of FAS 52 have seen erratically fluctuating exchange rates, however, and the equity positions of many firms have responded accordingly. This article provides an investigation into the erratic equity positions and recommends actions that can be taken currently that may avoid future embarrassments for the profession.
The World War Ii Experience And The Leadership Of Entrepreneurship And Venture Investing Around Stanford University, Martha L. Reiner
The World War Ii Experience And The Leadership Of Entrepreneurship And Venture Investing Around Stanford University, Martha L. Reiner
Robins School of Business White Paper Series, 1980-2022
Dr. Frederick Terman has been widely recognized as the "godfather of Silicon Valley" (Lowood, 1982). Terman, a Stanford University electrical engineering professor, managed Harvard University's Radio Research Laboratory during World War II and returned as Stanford's dean of engineering. His commitment to seeing California companies in science-based industries seize postwar opportunities to push ahead of their Eastern counterparts influenced the venture investing as well as the entrepreneurship that built a thriving high-technology industrial community around Stanford University. Terman's wartime experience shaped his postwar role as a leader of high-technology entrepreneurship. Wartime experiences similarly influenced individuals who invested in California ventures …
Optimal Selection With Holding, John S. Rose
Optimal Selection With Holding, John S. Rose
Robins School of Business White Paper Series, 1980-2022
The arrival times of what we shall call offers constitute a Poisson process. The value of any offer is a nonnegative random variable with known distribution. At an arrival epoch, we may select, reject, or hold the offer. Rejected offers may not be recalled, but an offer on hold is available for future consideration. However, cost accrues during the holding period. We seek a holding and selection strategy that maximizes the expected value of the offer selected less holding costs. The discrete time version of the problem is also considered.
A Comparison Of U.S. And Japanese Attitudes About The Relevance Of Current Consolidation Accounting Procedures, James A. Schweikart, Walter F. O'Connor
A Comparison Of U.S. And Japanese Attitudes About The Relevance Of Current Consolidation Accounting Procedures, James A. Schweikart, Walter F. O'Connor
Robins School of Business White Paper Series, 1980-2022
Consolidation accounting has not materially changed since APB Opinions 16 and 18. Only minor changes have been made such as the new rules requiring financial subsidiaries to be consolidated (FAS 94, 1989). The recent trend of mergers and acquisitions, however, represents a significant change in business environment from that which existed when consolidation accounting as we know it was formalized. Accordingly, there is concern that current consolidation practices may be less appropriate or relevant than before.